JimBowie1958
Old Fogey
- Sep 25, 2011
- 63,590
- 16,756
- 2,220
If we dont see some rapid gains to offset this 2200 point sell off in the DOWJI this could shape up to be a disasterous month for stocks.
"At this point, the Dow Jones Industrial Average (INDEXDJX:.DJI) has dipped below where it was at the end of the 2013 calendar year. That means that nearly two years of gains have already been obliterated....
"On Friday, the Dow was down another 272 points, and it is now down more than 2200 points from the peak of the market back in May.....
"We have already seen the 8th largest and 10th largest single day stock market crashes in all of U.S. history happen within the past few weeks. In fact, it was actually the very first time that we have ever seen the Dow fall by more than 500 points on consecutive trading days.
"On August 25th, I warned that there would be some huge rebound days where we would see lots of “panic buying”, and on August 26th we witnessed the 3rd largest single day stock market increase in all of U.S. history.
"Headlines all over America trumpeted the “fact” that the stock market had “recovered”, but the mainstream media failed to mention that the only two better days for the stock market were right in the middle of the stock market crash of 2008.
"In this article, I explained that this is exactly the type of market behavior that we expect to see during a full-blown market meltdown. There are going to be even more violent swings in the market in the weeks ahead, but the general direction will be down.....
"And this is truly a global phenomenon. Chinese stocks have been crashing horribly, Japanese stocks just had their worst week in over a year, Canada and much of South America are plunging into recession, and Europe is probably in worse shape than everyone else if you look at the fundamentals.
"Even though U.S. stocks have already fallen substantially, the truth is that they easily have much farther to fall. Yale economics professor Robert Shiller believes that we could actually soon see the Dow plunge all the way to 11,000…
"If the Dow breaks below 16,000 and stays there for a few days, it is quite likely that full-blown panic will set in.
And once we see the Dow dip below 15,000, people will be going insane."
http://etfdailynews.com/2015/09/08/...-already-plummeted-2200-points-from-the-peak/
Companies tend to inflate their sales numbers during the year to push their stock values up, but when the end of the fiscal year comes in end of September, they have to balance the books for real. This causes a lot of bad umbers to come out around the same time and that drives down the markets in September very often.
Fasten your seat belts folks, it is going to be a hairy ride.
"At this point, the Dow Jones Industrial Average (INDEXDJX:.DJI) has dipped below where it was at the end of the 2013 calendar year. That means that nearly two years of gains have already been obliterated....
"On Friday, the Dow was down another 272 points, and it is now down more than 2200 points from the peak of the market back in May.....
"We have already seen the 8th largest and 10th largest single day stock market crashes in all of U.S. history happen within the past few weeks. In fact, it was actually the very first time that we have ever seen the Dow fall by more than 500 points on consecutive trading days.
"On August 25th, I warned that there would be some huge rebound days where we would see lots of “panic buying”, and on August 26th we witnessed the 3rd largest single day stock market increase in all of U.S. history.
"Headlines all over America trumpeted the “fact” that the stock market had “recovered”, but the mainstream media failed to mention that the only two better days for the stock market were right in the middle of the stock market crash of 2008.
"In this article, I explained that this is exactly the type of market behavior that we expect to see during a full-blown market meltdown. There are going to be even more violent swings in the market in the weeks ahead, but the general direction will be down.....
"And this is truly a global phenomenon. Chinese stocks have been crashing horribly, Japanese stocks just had their worst week in over a year, Canada and much of South America are plunging into recession, and Europe is probably in worse shape than everyone else if you look at the fundamentals.
"Even though U.S. stocks have already fallen substantially, the truth is that they easily have much farther to fall. Yale economics professor Robert Shiller believes that we could actually soon see the Dow plunge all the way to 11,000…
"If the Dow breaks below 16,000 and stays there for a few days, it is quite likely that full-blown panic will set in.
And once we see the Dow dip below 15,000, people will be going insane."
http://etfdailynews.com/2015/09/08/...-already-plummeted-2200-points-from-the-peak/
Companies tend to inflate their sales numbers during the year to push their stock values up, but when the end of the fiscal year comes in end of September, they have to balance the books for real. This causes a lot of bad umbers to come out around the same time and that drives down the markets in September very often.
Fasten your seat belts folks, it is going to be a hairy ride.
